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Foreign institutional investors have offloaded RM160.3 million in local equities as selling pressure continues for the sixth consecutive week.

The national provident fund has raised its direct stake in the plantation giant to 17.645 percent following a series of market purchases.

Foreign institutional investors withdrew over RM640 million from local equities last week as trading activity cooled significantly.

Foreign institutions offloaded RM549.1 million in local stocks over the past week, marking three consecutive weeks of net selling.

The benchmark index recovered from mid-week volatility to post a modest gain despite lingering global economic headwinds.
